Chapter 7 Bankruptcy
Chapter 7 bankruptcy cases are the most popular type of bankruptcy case for consumers to file. In fact, most people are able to keep their home and cars. Furthermore, debtors can keep their pensions, 401(k)’s and they can keep their furniture. In actuality, most people keep everything they own when they file bankruptcy, however, there are some exceptions to this.
Each state has ‘exemptions,’ Exemptions are state laws enacted to protect certain assets in bankruptcy. However, these statutes are complicated, with many requirements and loopholes. Consequently, you should your bankruptcy attorney must be well versed and knowledgeable about the Illinois exemptions that can affect your case. We know the Illinois exemptions and will protect your assets to their fullest extent.
In fact, the attorneys at Leeders Law have filed thousands of cases just like yours. Additionally, we have the experience and knowledge to properly educate you about your bankruptcy case. Call today to speak with a bankruptcy lawyer at Leeders Law today. Finally, we always will give you a free consultation. We review all of the options you have available based on your individual case so that you can make an informed decision.
Here are a few things Chapter 7 could do for you:
- Stop harassing creditor phone calls.
- Garnishments and wage assignments must stop when you file Chapter 7 bankruptcy.
- Stop creditors from suing you.
- Eliminate the freeze on your bank account.
- Re-establish disconnected utilities.
- Stop the suspension of your driver’s license for unpaid tickets or accident claims.
- Discharge hundreds and thousands of dollars of debt.
- Discharge certain tax liability.
- Qualify you for a city parking ticket hardship repayment plan.
- Save money on your car payments.
- Get a better payment plan for your furniture, appliances, jewelry and electronics.
- Remove judicial liens on your home.
- Remove your obligation for any cosigned debt.
- Discharge certain over-payments of government debts, like unemployment and public aid.